MILWAUKEE, April 22, 2013 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Power-One, Inc. for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Power-One to ABB.
Click here to learn how to join the action: http://www.ademilaw.com/case/power-one-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Power-One's long-term financial outlook is very positive and yet Power-One shareholders will receive only $6.35. ABB is well aware of Power-One's improving financial metrics and is purchasing Power-One at a substantial discount. The merger agreement unreasonably limits prospective bids for Power-One by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Power-One receive and accept a superior bid. Power-One insiders, their affiliates and other majority shareholders own significant voting stock of Power-One, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of Power-One not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Power-One's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Power-One given its current financial condition and prospects.
If you own common stock in Power-One and wish to obtain additional information, please contact Guri Ademi either at firstname.lastname@example.org or toll-free: 866-264-3995, http://www.ademilaw.com/case/power-one-inc.
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CONTACT: Ademi & O'Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.comSource:Ademi & O'Reilly, LLP